Form 941 Schedule B

Form 941 Schedule B is used by semiweekly depositors to report the tax liability along with Form 941 which reports federal income taxes withheld from the employee's wages and employer and employee portion of social security and Medicare taxes. Every quarter the employer has to report the withholding information in Form 941 Schedule B.

Employers should not use Schedule B to show the federal tax deposit.

If the employers satisfy the following tax liability categories, they must file Schedule B.

Reported employment taxes more than $50,000 in the lookback period or acquired $100,000 tax liability or more during any single day in the current or previous calendar year.

The Form 941 Schedule B helps the IRS verify you have have made timely deposits of the employment tax liabilities. If you are a semi-weekly schedule depositor and fail to make deposits on time, the IRS may impose an average Failure to Deposit (FTD) penalty.

You can complete Schedule (Form 941) in two different ways as follows:

You can file Form 941 and Schedule B electronically through IRS authorized e-file providers in a few minutes.

If you choose paper filing, complete Form 941 and Schedule B and mail it to the IRS.

You can easily attach Schedule B for free when you e-file Form 941. You’ll also get the filing status instantly. ExpressEfile offers the lowest price ($5.95). E-file Now

• The social security wage base limit has been updated for the 2025 tax year.
• Household and election employers should now follow the updated threshold for withholding FICA taxes from their employees.
• Correction on previously filed Form 941 can now be electronically filed using Form 941-X.

Visit https://blog.taxbandits.com/the-irs-released-form-941-for-2025-key-changes-and-updates-released-by-the-irs/ for more detailed information on changes in Form 941 for 2025.

There is no specific deadline fixed for filing Form 941 Schedule B by the IRS. However, it has to be filed with your Form 941 according to the quarterly deadline.

Visit https://expressefile.com/form-941-due-date to learn about the Form 941 due dates.

If you have failed to file 941 Schedule B, the IRS will not be able to calculate the exact penalty rates. Thus, the IRS will impose an average FTD penalty. It will be calculated based on the total tax liability reported in Form 941, line 12.